Consolidated Financial Statements With Independent Auditors Report Years Ended December 31, 2007 and 2006 With Comparative Figures for 2005

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Daftar Isi Table of Contents

Halaman/

Page

Laporan Auditor Independen Independent Auditors’ Report

Neraca Konsolidasi ….……….. 1 - 4 ……...………Consolidated Balance Sheets Laporan Laba Rugi Konsolidasi ……….………... 5 …..………Consolidated Statements of Income Consolidated Statements of Changes in Laporan Perubahan Ekuitas Konsolidasi ………….. 6-7 ………...………Shareholders’ Equity Laporan Arus Kas Konsolidasi ….………... 8-9 …………..Consolidated Statements of Cash Flows Catatan atas Laporan Keuangan Konsolidasi …….. 10 - 147 ………Notes to Consolidated Financial Statements

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Catatan/ (Catatan 2b dan 3/ (Catatan 2b dan 3/

Notes 2007 Notes 2b and 3) Notes 2b and 3)

AKTIVA ASSETS

AKTIVA LANCAR CURRENT ASSETS

Kas dan setara kas 2c,2t,4,31 4.536.937 1.796.689 972.820 Cash and cash equivalents

Investasi jangka pendek 2a,2b,2d 227.337 542.490 471.395 Short-term investments

Piutang 2t,2y,31 Accounts receivable

Usaha 5 Trade

Pihak ketiga - setelah

dikurangi penyisihan

piutang ragu-ragu

sebesar Rp37.078 Third parties - net of allowance

pada tahun 2007, for doubtful accounts of

Rp14.738 pada Rp37,078 in 2007,

tahun 2006 dan Rp14,738 in 2006

Rp11.172 pada and Rp11,172

tahun 2005 2e 2.022.069 1.390.130 1.426.279 in 2005

Pihak yang mempunyai

hubungan istimewa 2s,24a 114.332 58.042 101.082 Related parties

Bukan Usaha Non-trade

Pihak ketiga - bersih 25c 146.972 157.702 128.877 Third parties - net

Pihak yang mempunyai 2s,2t,6,25a,

hubungan istimewa 31 84.447 63.124 48.411 Related parties

Persediaan - bersih 2f,2y,7 4.169.150 2.980.805 2.695.409 Inventories - net

Uang muka dan jaminan 234.186 239.102 489.890 Advances and deposits

Pajak dibayar dimuka 154.883 202.152 97.158 Prepaid taxes

Biaya dibayar dimuka dan Prepaid expenses and other

aktiva lancar lainnya 2g,25o 76.352 43.969 49.467 current assets

Jumlah Aktiva Lancar 11.766.665 7.474.205 6.480.788 Total Current Assets

AKTIVA TIDAK LANCAR NON-CURRENT ASSETS

Tagihan pajak penghasilan 2q,2y 49.545 268.820 414.397 Claims for tax refund

Piutang plasma - bersih 2v,27 236.120 72.632 - Plasma receivables - net

Aktiva pajak tangguhan - bersih 2q,2y,15 155.613 115.092 109.096 Deferred tax assets - net

Penyertaan jangka panjang dan Long-term investments and

uang muka untuk pembelian 2a,2b, advance for purchase of

investasi 8,24c,29 20.219 23.103 230.080 investment

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Catatan atas laporan keuangan konsolidasi terlampir merupakan bagian yang tidak terpisahkan dari laporan

The accompanying notes to consolidated financial statements form an integral part of these consolidated

As Restated) As Restated)

Tanaman perkebunan Plantations

Tanaman menghasilkan - setelah

dikurangi akumulasi amortisasi

sebesar Rp 557.893 Mature plantations - net of

pada tahun 2007, accumulated amortization of

Rp196.773 pada Rp557,893 in 2007,

tahun 2006 dan Rp196,773 in 2006,

Rp177.834 pada Rp177,834 in 2005

tahun 2005 2h,9 3.305.778 201.812 186.245

Tanaman belum menghasilkan 2h,2n,9 1.499.069 430.043 165.958 Immature plantations

Aktiva tetap - setelah dikurangi

akumulasi penyusutan sebesar

Rp4.633.504 pada Property, plant and equipment -

tahun 2007, net of accumulated depreciation of

Rp 3.826.436 pada Rp4,633,504 in 2007,

tahun 2006 dan 2a,2i,2j,2m,2n, Rp3,826,436 in 2006 and

Rp 3.257.078 pada tahun 2005 10,16a,16b 8.079.455 6.463.898 6.055.277 Rp3,257,078 in 2005

Beban ditangguhkan - bersih 2i,2k 439.779 223.119 229.635 Deferred charges - net

Goodwill - bersih 2b,2m 3.074.823 216.989 195.744 Goodwill - net

Aktiva tidak lancar lainnya 2g,24e,25n 900.400 777.770 791.983 Other non-current assets

Jumlah Aktiva Tidak Lancar 17.760.801 8.793.278 8.378.415 Total Non-current Assets

JUMLAH AKTIVA 29 29.527.466 16.267.483 14.859.203 TOTAL ASSETS

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LIABILITIES AND

KEWAJIBAN DAN EKUITAS SHAREHOLDERS’ EQUITY

KEWAJIBAN LANCAR CURRENT LIABILITIES

Hutang bank jangka pendek Short-term bank loans and

dan cerukan 2t,11,31 5.734.104 2.039.664 1.447.091 overdraft

Hutang “trust receipts” 7,12 1.205.892 820.604 583.982 Trust receipts payable

Hutang 2t,31 Accounts payable

Usaha 13 Trade

Pihak ketiga 1.750.631 1.131.157 1.536.403 Third parties

Pihak yang mempunyai 2s,24b,

hubungan istimewa 25p 71.013 53.169 59.918 Related parties

Bukan Usaha Non-trade

Pihak ketiga 25b,25c 478.627 180.388 217.160 Third parties

Pihak yang mempunyai

hubungan istimewa 2s,6 55.481 27.214 5.770 Related parties

Beban masih harus dibayar 2y,14 1.190.093 560.556 348.559 Accrued expenses

Hutang pajak 2q,2y,15 495.556 195.793 102.106 Taxes payable

Pinjaman jangka panjang yang

jatuh tempo dalam waktu Current maturities of

satu tahun long-term debts

Hutang obligasi - bersih 2o,16b 1.224.464 - - Bonds payable - net

Hutang bank 2t,10,16a 567.509 1.315.686 121.599 Bank loans

Obligations under capital

Hutang sewa guna usaha 2j 2.995 70 - leases

Jumlah Kewajiban Lancar 12.776.365 6.324.301 4.422.588 Total Current Liabilities

KEWAJIBAN TIDAK LANCAR NON-CURRENT LIABILITIES

Pinjaman jangka panjang - setelah

dikurangi bagian yang jatuh Long-term debts - net of

tempo dalam waktu satu tahun current maturities

Hutang bank 2t,10,16a 688.719 883.622 1.000.485 Bank loans

Hutang obligasi dan

wesel bayar berjaminan - Bonds and guaranteed notes

bersih 2o,2t,16b 2.960.430 2.192.123 3.682.426 payable - net

Obligations under capital

Hutang sewa guna usaha 2j 3.417 113 - leases

Jumlah pinjaman jangka panjang 3.652.566 3.075.858 4.682.911 Total long-term debts

Hutang plasma - bersih 2v,27 - - 9.676 Plasma payables - net

Kewajiban pajak tangguhan - bersih 2q,2y,15 1.517.928 743.684 589.752 Deferred tax liabilities - net

Estimated liabilities for

Estimasi kewajiban imbalan kerja 2r,2y,26 729.049 428.152 354.430 employee benefits

Jumlah Kewajiban Tidak Lancar 5.899.543 4.247.694 5.636.769 Total Non-current Liabilities

GOODWILL - bersih 2b 3.134 3.312 3.490 GOODWILL - net

HAK MINORITAS ATAS AKTIVA MINORITY INTERESTS IN NET

BERSIH ANAK PERUSAHAAN 2b,20 3.721.828 657.713 435.055 ASSETS OF SUBSIDIARIES

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Catatan atas laporan keuangan konsolidasi terlampir merupakan bagian yang tidak terpisahkan dari laporan

The accompanying notes to consolidated financial statements form an integral part of these consolidated

EKUITAS SHAREHOLDERS' EQUITY

Modal saham - nilai nominal Rp100

per saham Capital stock - Rp100 par value

Modal dasar - 30.000.000.000 Authorized - 30,000,000,000

saham shares

Modal ditempatkan dan disetor Issued and fully paid -

penuh - 9.444.189.000 saham 17 944.419 944.419 944.419 9,444,189,000 shares

Agio saham 18 1.182.046 1.182.046 1.182.046 Additional paid-in capital

Differences in values of

Selisih nilai transaksi restructuring transactions

restrukturisasi antara entitas among entities under

sepengendali 2b,24c (1.051.958 ) (989.441) (930.493) common control

Laba yang belum terealisasi Unrealized gains on investments

atas investasi efek - bersih 2a,2b,2d 154.167 81.207 57.627 in marketable securities - net

Selisih perubahan ekuitas Differences arising from changes

Anak Perusahaan 2b,10 1.611.683 173.141 128.062 in equities of Subsidiaries

Selisih kurs atas penjabaran Differences arising from foreign

laporan keuangan 2b 28.057 (2.497) 3.145 currency translations

Modal proforma 2b - 103.377 52.852 Pro forma capital

Saldo laba Retained earnings

Telah ditentukan penggunaannya 19 55.000 50.000 45.000 Appropriated

Belum ditentukan penggunaannya 4.944.251 4.233.280 3.619.712 Unappropriated

Modal saham yang diperoleh kembali - Treasury stock - 915,600,000

915.600.000 saham 2l,17 (741.069) (741.069) (741.069) shares

Jumlah Ekuitas Bersih 7.126.596 5.034.463 4.361.301 Net Shareholders’ Equity

JUMLAH KEWAJIBAN DAN TOTAL LIABILITIES AND

EKUITAS 29.527.466 16.267.483 14.859.203 SHAREHOLDERS’ EQUITY

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PENJUALAN BERSIH 2p,2s,21,24a, 27.858.304 21.941.558 18.764.650 NET SALES

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BEBAN POKOK PENJUALAN 2h,2i,2j,2p,2r,2s, 21.281.752 16.761.335 14.341.644 COST OF GOODS SOLD

9,10,22,24b,24f,

25p,26

LABA KOTOR 6.576.552 5.180.223 4.423.006 GROSS PROFIT

BEBAN USAHA 2i,2p,2r,2s, OPERATING EXPENSES

10,23,26

Penjualan 24f 2.339.110 2.077.419 1.727.938 Selling

Umum dan administrasi 24d,24e General and administrative

25n 1.343.014 1.131.043 1.034.007

Jumlah Beban Usaha 3.682.124 3.208.462 2.761.945 Total Operating Expenses

LABA USAHA 29 2.894.428 1.971.761 1.661.061 INCOME FROM OPERATIONS

PENGHASILAN/(BEBAN)

LAIN-LAIN OTHER INCOME/(CHARGES)

Penghasilan bunga 2t,4,24c 158.309 63.370 15.968 Interest income

Beban bunga dan pendanaan 2n,2t Interest expense and other

lainnya 11,12,16a,16b (710.045) (816.402) (827.870) financing charges

Gains/(losses) on foreign

Laba/(rugi) kurs termasuk exchange, inclusive of

rugi atas swap mata uang 2t,2u,2y,25b 13.500 95.418 (478.247) loss on currency swap

Lain-lain - bersih 2b,2k,2s,2t, (290.963) (92.941) 53.409 Others - net

8,24g,25a

Beban Lain-lain - Bersih 29 (829.199) (750.555) (1.236.740) Other Charges - Net

LABA SEBELUM MANFAAT/ INCOME BEFORE INCOME TAX

(BEBAN) PAJAK PENGHASILAN 15 2.065.229 1.221.206 424.321 BENEFIT/(EXPENSE)

MANFAAT/(BEBAN) INCOME TAX BENEFIT/

PAJAK PENGHASILAN 2q,2y,15,29 (EXPENSE)

Tahun berjalan (878.006) (459.394) (267.073) Current

Tangguhan 181.164 (12.635) 78.647 Deferred

Beban Pajak Penghasilan - Bersih (696.842) (472.029) (188.426) Income Tax Expense - Net

INCOME BEFORE MINORITY

LABA SEBELUM HAK MINORITAS INTERESTS IN NET EARNINGS

ATAS LABA BERSIH ANAK PERUSAHAAN OF SUBSIDIARIES AND

DAN PENYESUAIAN PROFORMA 1.368.387 749.177 235.895 PRO FORMA ADJUSTMENT

HAK MINORITAS ATAS MINORITY INTERESTS IN

LABA BERSIH NET EARNINGS OF

ANAK PERUSAHAAN - Bersih 2b,20,29 (387.270) (90.837) (112.980) SUBSIDIARIES - Net

PENYESUAIAN PROFORMA 2b,29 (760) 2.870 1.103 PRO FORMA ADJUSTMENT

LABA BERSIH 28,29 980.357 661.210 124.018 NET INCOME

LABA PER SAHAM 2w EARNINGS PER SHARE

Laba Usaha 339 231 195 Income from Operations

Laba Bersih 28 115 78 15 Net Income

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Catatan atas laporan keuangan konsolidasi terlampir merupakan bagian yang tidak terpisahkan The accompanying notes to consolidated financial statements form an integral part of these consolidated financial statements.

Modal Ditempatkan in Values of atas Investasi Anak Perusahaan / Keuangan/

dan Disetor Restructuring Efek - bersih/ Differences Differences Saldo Laba/Retained Earnings

Penuh/ Agio Saham/ Transactions Unrealized Gains Arising Arising Modal Saham Jumlah Issued and Additional Among on Investments from Changes in from Foreign Telah Ditentukan Belum Ditentukan yang Diperoleh Ekuitas Bersih/

Catatan/ Fully Paid Paid-in Entities Under in Marketable Equities of Currency Modal Proforma/ Penggunaannya/ Penggunaannya/ Kembali/ Net Shareholders’

Notes Capital Capital Common Control Securities - net Subsidiaries Translations Pro forma Capital Appropriated Unappropriated Treasury Stock Equity

Saldo 1 Januari 2005 Balance, January 1, 2005

Dilaporkan sebelumnya 944.419 1.182.046 (917.741) 22.553 8.358 1.406 - 40.000 3.649.944 (741.069) 4.189.916 As previously reported

Penyesuaian yang timbul dari Adjustment arising from application

penerapan Pernyataan Standar of Statement of Financial Accounting

Akuntansi Keuangan (PSAK) Standards (SFAS) No. 38

No. 38 (Revisi 2004), (Revised 2004), “Accounting

“Akuntansi Restrukturisasi for Restructuring Transactions Among

Entitas Sepengendali” 2b,25d - - - - - - 4.457 - - - 4.457 Entities Under Common Control”

Disajikan kembali 944.419 1.182.046 (917.741) 22.553 8.358 1.406 4.457 40.000 3.649.944 (741.069) 4.194.373 As restated

Kenaikan modal proforma Increase in pro forma capital

selama tahun berjalan 2b,25d - - - - - - 48.395 - - - 48.395 during the year

Selisih nilai transaksi restrukturisasi 2b,24c Differences in values of restructuring transactions

antara entitas sepengendali - - (12.752) - - - - - - - (12.752 ) among entities under common control

Laba yang belum terealisasi atas Unrealized gains on appreciation in fair

kenaikan nilai pasar wajar market values of investments in

investasi efek - bersih 2a,2b,2d - - - 35.074 38.164 - - - - - 73.238 marketable securities - net

Revaluasi atas kenaikan aktiva tetap Revaluation increment in fixed assets

Anak Perusahaan 2b,10 - - - - 81.540 - - - - - 81.540 of a Subsidiary

laporan keuangan 2b - - - - - 1.739 - - - - 1.739 currency translations

Pencadangan saldo laba sebagai

cadangan umum 2b,19 - - - - - - - 5.000 (5.000 ) - - Appropriation for general reserve

Pembagian dividen kas 2b,19 - - - - - - - - (149.250 ) - (149.250 ) Distribution of cash dividends

Laba bersih - - - - - - - - 124.018 - 124.018 Net income

Saldo 31 Desember 2005 - Balance, December 31, 2005 -

disajikan kembali 944.419 1.182.046 (930.493) 57.627 128.062 3.145 52.852 45.000 3.619.712 (741.069) 4.361.301 as restated

Kenaikan modal proforma selama

tahun berjalan 2b,25d - - - - - - 50.525 - - - 50.525 Increase in pro forma capital during the year

Laba yang belum terealisasi Unrealized gains on appreciation in fair

atas kenaikan nilai pasar wajar market values of investments in

investasi efek - bersih 2a,2b,2d - - - 23.580 45.079 - - - - - 68.659 marketable securities - net

Selisih nilai transaksi restrukturisasi 2b Differences in values of restructuring transactions

antara entitas sepengendali - - (58.948) - - - - - - - (58.948 ) among entities under common control

laporan keuangan 2b - - - - - (5.642) - - - - (5.642 ) currency translations

Saldo 31 Desember 2006 - disajikan Balance, December 31, 2006 - as restated

kembali (dilaporkan berikutnya) 3 944.419 1.182.046 (989.441) 81.207 173.141 (2.497) 103.377 50.000 4.233.280 (741.069) 5.034.463 (carried forward)

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dan Disetor Restructuring Efek - bersih/ Differences Differences Saldo Laba/Retained Earnings

Penuh/ Agio Saham/ Transactions Unrealized Gains Arising Arising Modal Saham Jumlah Issued and Additional Among on Investments from Changes in from Foreign Telah Ditentukan Belum Ditentukan yang Diperoleh Ekuitas Bersih/

Catatan/ Fully Paid Paid-in Entities Under in Marketable Equities of Currency Modal Proforma/ Penggunaannya/ Penggunaannya/ Kembali/ Net Shareholders’

Notes Capital Capital Common Control Securities - net Subsidiaries Translations Pro forma Capital Appropriated Unappropriated Treasury Stock Equity

Saldo 31 Desember 2006 - disajikan Balance, December 31, 2006 - as restated

kembali (dilaporkan sebelumnya) 944.419 1.182.046 (989.441) 81.207 173.141 (2.497) 103.377 50.000 4.233.280 (741.069) 5.034.463 (brought forward)

Pembalikan modal proforma 2b,25d - - - - - - (103.377) - - - (103.377 ) Reversal of pro forma capital

Selisih nilai transaksi restrukturisasi Differences in values of restructuring transactions

antara entitas sepengendali 2b,25d - - (62.517 ) - - - - - - - (62.517 ) among entities under common control

Laba yang belum terealisasi atas Unrealized gains on appreciation in fair

kenaikan nilai pasar wajar market values of investments in

investasi efek - bersih 2a,2b,2d - - - 72.960 - - - - - - 72.960 marketable securities - net

Peningkatan modal melalui

penempatan saham Increase in capital of a Subsidiary through

Anak Perusahaan 2b,25e - - - - 1.119.316 - - - - - 1.119.316 placement of shares

Selisih atas pengeluaran

saham baru oleh Anak

Perusahaan kepada Difference arising from issuance of new shares

pihak ketiga 2b,25g - - - - 443.106 - - - - - 443.106 by a Subsidiary to a third party

Pembalikan laba yang belum

terealisasi atas investasi

efek yang dijual selama Reversal of unrealized gains on investments

tahun berjalan 2b,2d - - - - (91.601 ) - - - - - (91.601) in marketable securities sold during the year

Penurunan bagian atas selisih Decrease in share of revaluation

penilaian kembali aktiva tetap increment in fixed assets of

Anak Perusahaan akibat terdilusi a Subsidiary arising from

kepemilikan efektif perusahaan 2b dilution of the Company’s effective

pada Anak Perusahaan - - - - (32.279 ) - - - - - (32.279) ownership interest in the said Subsidiary

laporan keuangan 2b - - - - - 30.554 - - - - 30.554 currency translations

Saldo 31 Desember 2007 944.419 1.182.046 (1.051.958) 154.167 1.611.683 28.057 - 55.000 4.944.251 (741.069) 7.126.596 Balance, December 31, 2007